Marketing strategies

1092 WordsOct 8, 20135 Pages
Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage.[1] Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contribute to the goals of the company and its marketing objectives.[2] Types of strategies Marketing strategies may differ depending on the unique situation of the individual business. However there are a number of ways of categorizing some generic…show more content…
There are also corporate strategy concepts like: Andrews’ “SWOT analysis” "Although widely used in marketing strategy, SWOT (also known as TOWS) Analysis originated in corporate strategy. The SWOT concept, if not the acronym, is the work of Kenneth R. Andrews who is credited with writing the text portion of the classic: Business Policy: Text and Cases (Learned et al., 1965)" (41). Ansoff’s “growth strategies” "The most well-known, and least often attributed, aspect of Igor Ansoff’s Growth Strategies in the marketing literature is the term 'product-market. ' The product-market concept results from Ansoff juxtaposing new and existing products with new and existing markets in a two by two matrix" (41-42). Porter’s “generic strategies” Porter generic strategies - strategy on the dimensions of strategic scope and strategic strength. Strategic scope refers to the market penetration while strategic strength refers to the firm’s sustainable competitive advantage. The generic strategy framework (porter 1984) comprises two alternatives each with two alternative scopes. These are Differentiation and low-cost leadership each with a dimension of Focus-broad or narrow. ** Product differentiation ** Cost leadership ** Market segmentation * Innovation strategies — This deals with the firm 's rate of the new product development and business model innovation. It asks whether the company is on
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